Thank you, Mr. Chair.
This amendment is to change it so that Bill C-43 in clause 364 be amended by replacing in the English version line 2 on page 432 with the following:
to in subsection (1) that systemic risk or payments system risk is being
The proposed amendment is to correct an editorial error. The term “payments system risk” was inadvertently omitted from proposed subsection 6(2) in clause 364 of the English version of the bill, not in the French version.
The amendment ensures consistency with proposed subsection 6(1) of clause 364, which will allow the Governor of the Bank of Canada to issue a directive to a clearing house for systemic risk or payments system risk. The amendment ensures alignment between the English and the French versions of clause 364. The French version includes the term risque pour le système de paiement, i.e., payments system risk .
That is the purpose of the amendment.
Thank you, Mr. Chair.